CSX Co. (NASDAQ:CSX) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its position in CSX Co. (NASDAQ:CSX) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,679,505 shares of the transportation company’s stock after buying an additional 109,422 shares during the period. The Manufacturers Life Insurance Company owned about 0.14% of CSX worth $92,523,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Valley Wealth Managers Inc. boosted its holdings in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of CSX during the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC acquired a new position in shares of CSX during the 2nd quarter worth approximately $27,000. Fairscale Capital LLC acquired a new position in shares of CSX during the 2nd quarter worth approximately $32,000. Finally, Morton Brown Family Wealth LLC acquired a new position in shares of CSX during the 3rd quarter worth approximately $31,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Down 0.3 %

CSX stock opened at $36.58 on Thursday. CSX Co. has a twelve month low of $31.65 and a twelve month high of $40.12. The stock’s fifty day simple moving average is $34.64 and its 200-day simple moving average is $33.99. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $70.54 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.32 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. As a group, equities analysts expect that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. CSX’s payout ratio is currently 25.81%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CSX. Wells Fargo & Company lowered their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Barclays boosted their target price on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, BMO Capital Markets reduced their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.